Arran Rowsell, the global head of flow credit trading at Commerzbank in London, has left the bank after nearly three years in the role as it continues to cut back its investment bank.
Rowsell left Commerzbank in October, having joined in February 2014 from Barclays investment bank.
Rowsell’s career is an exercise in chasing larger titles at increasingly less prestigious investment banks. He started out as an associate at Lehman Brothers in 1997 and then moved to Goldman Sachs in November 2000 where he eventually became an executive director in credit flow trading.
U.S. banks might not always have been as dominant over their European competitors as they are now, but it’s always a good way of trading up to a bigger role. Rowsell moved to a managing director role at Credit Suisse, where he moved up to head of European flow credit trading. He spent more than seven years there before switching to Barclays investment bank in February 2012 as co-head of flow credit trading for central and eastern Europe.
The Commerzbank role had global scope, but it has been shrinking its investment bank. Commerzbank’s investment bank has long been much smaller operation than during its pre-crisis pomp, but the past two years have been particularly brutal.
It relocated 440 investment banking and back office jobs from London to Germany at the beginning of 2015. Around 80 of these were front office trading jobs, both currency and bond traders. At the end of September this year, it said that it was cutting another 9,600 jobs and would continue to shrink its investment bank.